AQUARIUS CONDOMINIUM ASSOCIATION, INC,

Meeting of the Board of Directors   

Date:   Thursday, October 8, 2015      Time:   7:00 pm

Location: The Residences of Hollywood Condominium

3001 S Ocean Drive,   Hollywood, Florida 3309

1. Call meeting to order: Meeting started 7:10 PM
2. Proof of notice of meeting: Surdovel, General Manager, attested proof notice was posted 4:30 October 6^th, 2015
3. Certification of a Quorum: A. Surdovel verified quorum Ilya, Eugenia, Sofia, Boris and Linda present. About 40 Owners also present.
4. Approval of Minutes of July 30, 2015: Copies of minutes were made available. Minutes were approved unanimously by Directors.
5. A motion to approve One Global Service contract for Aquarius Security was approved unanimously. The President Ilya explained that with this contract the Condo. Association would get: Professional Training and Supervision, all security officers would be transferred to the Contractor, with better benefits and equal salary, more service hours per week 380 hours versus 350 hours and annual savings of near $ 30,000 per annun.
6. A motion to establish the rule that only one Board member to communicate with the Association’s Law firm. This exclusive contact is Sofia. Approved with the opposition of Linda Satz, Board Secretary. This issue was object of discussion. Several Owners expressed reserve to excessive use of attorney consultations resulting in high expenses for the Condo Association.
7. Motion to approve $1.5 million dollars Line of Credit with Banco Popular. Motion approved unanimously. This line of credit has two purposes: (1) Assure punctuality of Aquarius payments as contractors finalize their jobs and present their invoices. (2) Extend collection of last to installments of Special Assessment due November 11 and December 15. Owners that have their payments current will be able to opt for a modality of 10 payments from November 1^st. on. Owners that opt for this modality will pay over 10 months the entire amount due and additional interest of about 3.5%. After the option is made the owner cannot modify it. Owners mentioned that the line of credit had been approved by previous Board. The President explained that the approval was to include the use of the line of credit to allow owners to pay final portion of Special Assessment 2015 in ten months provided the owners are current and pay a 3.5% interest.
8. Motion to approve the Atlantic Pacific Management company to manage Aquarius. Approved by 4 votes 1 with Linda Satz opposed. This motion was subject of a presentation by William J. Coleman, Regional Manager of Atlantic Pacific. He informed that Atlantic Pacific is in charge of the management of neighboring buildings such as Wave, Trump and Residences of Hollywood.  Atlantic Pacific will manage Aquarius Condo. Association, assume maintenance and cleaning. It also will provide accounting, collections, payments, assistance on the 40 years Recertification exercise, Project Management of Reconstruction, schedule completion supervision, periodic reports, Management Reviews and other services.  Many owners questioned the BOD on the decision to terminate the General Manager Andrew Surdovel. Some argued that Mr. Surdovel tenure was very successful and he had been acting, simultaneously, as General Manager and Project Manager of the several project under development. The President of the BOD explained that a more professional and profound set of skills was necessary. The complexity of the 40 years Inspection and Recertification exercise would be very complex initiative and Atlantic Pacific would have the resources to provide help when needed. In addition it Mr. Surdovel has the opportunity to work with Atlantic Pacific in other properties. The contractual penalty Aquarius Condominium will incur for the anticipated termination of Andrew Surdovel will be paid by Atlantic Pacific.
9. A motion to approve the purchase of outdoor furniture for the East Pool and the Aquarius Restaurant as suggested and procured by the Beautification Committee as approved by all members of the BOD.
10. It was approved by all BOD members a motion to temporarily revoke the voting privileges for Unit owners who are 90 days delinquent on their account. In addition they will not have access to the common amenities such as swimming pools, gym, card and billiards room and other as determined by Aquarius declaration and rules and regulations.
11. A motion to approve the proposed surveillance security camera system passed with 5 positive votes.
12. President’s Report, Common areas and cooling handlers of Air Conditioning update: The President of the BOD informed that has received 3 bids for the project to replace the units in the actual configuration. He is the opinion that the actual custom configuration should be abandoned in favor of standard off the shelve units that would allow better acquisition price and easier maintenance. The BOD has already received one offer. Vendors were invited and a contract will be awarded after the Aquarius Condo Ass. has a minimum of 3 offers.
13. Regarding the previous issue on the Air Conditioning for Aquarius there are 2 points to consider: (1) The level of noise of the new units that must be properly evaluated. (2) The need to contracts the elaboration of technical drawings with details on plumbing, electrical and mechanical aspects. The elaboration of these drawings will cost about $ 10,000.00. A motion to approve this expenditure carried with 5 votes.
14. The meeting adjourned 9:00 P.M.

Minutes recorded by Linda Satz, Board of Directors Secretary of the Aquarius Condominium Association

Aquarius Condominium Association

2751 South Ocean Drive, Hollywood, Florida 33019

Phone: (954) 921-7924 Fax: (954) 921-9768     http://www.aquariuscondo.com

e-mail: aquariuscondo@comcast.com